Serbia, EBRD Lends EUR 43 mil to Modernize Cargo’s Rail Fleet

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The European Bank for Reconstruction and Development is stepping up its support for Serbia’s rail sector by extending a EUR 43 million loan to Serbia Cargo to finance its freight fleet modernization, it said in a statement.

The Serbian state-owned rail cargo company will use the funds to replace obsolete rolling stock, buy new locomotives and freight wagons, and overhaul existing wagons.

The investment will allow the company to improve the quality and volume of its freight services and encourage the greater use of rail transport over the currently dominant road, BBJ writes.

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